Ecnomic Current Affairs : Bank PO Special
- The public sector banks have decided to cap the home loan interest rate up to five lakh at 5.5% and 5-20 Lakh 9.25%
- To check the depreciation of Indian Rupee Government sold $ 20.63 Billion foreign currency during December 2008.
- RBI has provided EXIM bank a redefiance facility of 5000 crore rupees during December 2008
- In 2008 India’s industrial growth has dipped to -0.4% (first time negative in 15 years) from 12.2 % in 2007
- RBI has revealed that India’s Net International Investment Position or Net IIP has declined till June 2008 by 6.45%
- Excise collection has also reduced by 8.3 % during 2008
- FDI (Foreign Direct Investment) have shown 26% decline in 2008.
- State Bank of India has merged its two Mauritius Subsidiaries recently.
- Global Cotton trade is likely to fall by 12 % as per International Cotton Advisory Committee.
- ADB (Asian Development Bank) has decided to provide $ 150 million to revive Khadi.
- SBI has entered in General Insurance by partnering with Insurance Australia Group (IAG)
- Public Sector UCO Bank has launched a multipurpose pre funded cheques series of three values Rs. 1000, Rs. 5000 & Rs. 10000. They bear all the features of Demand Drafts and not be able to bounce, as they are pre funded.
- Govt of India has allowed foreign direct Investment in News Magazine Sector.
- The Cabinet Committee on Economic Affairs has approved a centrally sponsored “National Mission on Medicinal Plants”
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